Proposed Revisions to MAS Notices on Credit Files Grading and Provisioning

This consultation paper seeks comments from the industry and public on the proposed revised MAS Notice 612 to banks (PDF, 41.4KB), Notice 1005 to merchant banks (PDF, 42.2KB) and Notice 811 to finance companies (PDF, 40.2KB) on credit files, grading, and provisioning. 2   Banks, merchant banks and finance companies should establish a process for monitoring the condition of individual credits to ensure that problem credits are identified and reported at an early stage through diligent credit monitoring.  3   The rules stipulated in the proposed revised MAS Notices set out the minimum credit grading and provisioning requirements that banks, merchant banks and finance companies are required to follow.  The financial institutions should exercise their judgment and adopt more stringent standards when necessary.  In addition, they are encouraged to have more robust credit monitoring and grading frameworks that are commensurate with the level of credit risk arising from their operations. 4   We invite you to forward your views and comments to the following address by 04 July 2003.  Please send your written comments to:  Complex Institutions Supervision Department
 Monetary Authority of Singapore
 10 Shenton Way, MAS Building
 Singapore 079117
 Attn: Claudia Soh/Chow Wai Leng  Fax: 6229-9697
Please note that all submissions may be made public unless you have specifically requested for confidentiality of the whole or part of your submission.

Last Modified on 26/11/2016